OCLR has been the subject of several other research reports. Piper Jaffray Companies reissued an overweight rating and set a $15.00 target price on shares of Oclaro in a research note on Friday, March 3rd. MKM Partners reissued a buy rating on shares of Oclaro in a research note on Thursday, December 22nd. Stifel Nicolaus reissued a buy rating and set a $12.00 target price on shares of Oclaro in a research note on Monday, January 23rd. Jefferies Group LLC reissued a buy rating and set a $14.00 target price on shares of Oclaro in a research note on Thursday, February 23rd. Finally, Zacks Investment Research raised Oclaro from a hold rating to a strong-buy rating and set a $11.00 target price for the company in a research note on Saturday, January 21st. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $11.28.
Shares of Oclaro (NASDAQ:OCLR) opened at 9.585 on Wednesday. The company’s 50 day moving average price is $9.51 and its 200-day moving average price is $8.88. Oclaro has a 52 week low of $4.25 and a 52 week high of $11.30. The stock has a market capitalization of $1.60 billion, a PE ratio of 28.870 and a beta of 1.80.
Oclaro (NASDAQ:OCLR) last posted its earnings results on Tuesday, January 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. The company earned $153.90 million during the quarter, compared to analysts’ expectations of $150.53 million. Oclaro had a return on equity of 23.12% and a net margin of 8.83%. The firm’s quarterly revenue was up 63.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 earnings per share. Equities research analysts predict that Oclaro will post $0.76 EPS for the current year.
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In other news, insider Michael H. Fernicola sold 4,563 shares of Oclaro stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $10.02, for a total value of $45,721.26. Following the completion of the sale, the insider now directly owns 68,908 shares of the company’s stock, valued at $690,458.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO James Douglas Haynes sold 20,000 shares of Oclaro stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $10.68, for a total value of $213,600.00. Following the completion of the sale, the chief operating officer now directly owns 309,277 shares of the company’s stock, valued at $3,303,078.36. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Jag Capital Management LLC purchased a new stake in shares of Oclaro during the third quarter worth $105,000. Oberweis Asset Management Inc. purchased a new stake in shares of Oclaro during the fourth quarter worth $119,000. FNY Managed Accounts LLC purchased a new stake in shares of Oclaro during the third quarter worth $122,000. Creative Planning boosted its stake in shares of Oclaro by 1,415.3% in the third quarter. Creative Planning now owns 14,486 shares of the company’s stock worth $124,000 after buying an additional 13,530 shares during the last quarter. Finally, Suntrust Banks Inc. purchased a new stake in shares of Oclaro during the third quarter worth $129,000. 63.47% of the stock is owned by institutional investors and hedge funds.
Oclaro, Inc is a provider of optical components, modules and subsystems for the core optical transport, service provider, enterprise and data center markets. The Company provides various solutions for optical networks and interconnects driving the next wave of streaming video, cloud computing, application virtualization and other bandwidth-intensive and high-speed applications.
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